1151 Grove AveImperial Beach, CA 91932

This exceptional six-unit apartment building, located at 1151 Grove Ave in Imperial Beach, California, presents a compelling investment opportunity. The property boasts a total of 5,104 square feet on a spacious 18,775 square foot lot, featuring six two-bedroom, one-bathroom units, each approximately 850 square feet. Currently enjoying a 97% occupancy rate, the units generate an average monthly rent of $2,395, with potential for increased rental income. The property includes seven garages and five additional open parking spaces, providing ample parking for residents. Further enhancing its appeal are the washer/dryer hookups in each unit, private yards for select units, and the absence of shared walls between units. Built in 1974, this well-maintained single-story complex offers a strong current NOI of $114,728 and a pro-forma NOI of $141,201, translating to a current cap rate of 4.59% and a pro-forma cap rate of 5.65%. The asking price is $2,500,000, representing a price per unit of $416,667 and a price per square foot of $489.81. The property's location in Imperial Beach, San Diego County (APN: 633-150-80-00), and its desirable features make it an attractive investment with significant upside potential. This fee simple ownership opportunity is ready for a new owner to continue its success.